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US President Donald Trump reacts when he and Polish President King Navaroki (not pictured) meet in the Oval Cabinet in the White House in Washington, Colombia District, September 3, 2025.
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The US administration impressed the 2 trillion dollars in the Norwegian Welfare Fund, saying that the recent way out of the American company “very worried”, which “very worry” Caterpillar.
In recent weeks, the Norwegian sovereign riches are the world’s largest in the world – twisted their investment in Israel and announced plans on Sell ​​Your Holding From US cars caterpillar machines amid concern with the conflict in the Gaza Strip.
“We are very concerned about the decision of the Norwegian sovereign wealth fund, which appears to be based on illegitimate requirements against Caterpillar and the Israeli government,” the US State Department press secretary said on Thursday. “We cooperate directly with the Norwegian government on this issue.”
The State Department first talked Financial Times about Fund’s strategy on Wednesday.
Fund of wealth “DON’T Topic Topic” at the negotiations
In an e -mail statement on Thursday, Norwegian Finance Minister Jens Stoltenberg emphasized that the government did not participate in the decision on which companies were included in the fund’s portfolio.
In general, the decisions on the fund were divided between the Ministry of Finance of the country, its Central Bank and its own ethics, he added.
“The government does not participate in the evaluation of individual companies,” he said. “The decision to exclude companies is an independent decision made by the Norges Bank Executive Council in accordance with the established framework. This is not a political decision.”
Stoltenberg added that he participated in the Norwegian delegation on Tuesday, who participated in the talks with Trump’s economic advisor Kevin Joset.
“We discussed trade and tariffs, economic sanctions against Russia and Ukraine’s support,” he said. “The Pension Fund was not a discussion topic.”
Last week Norges Bank Investment Management, or NBIM – which manages the fund on behalf of the Norwegian population – said it would be Get out of the share of Caterpillar and five Israeli banks, citing “unacceptable risk that companies make serious violations of human rights and conflicts.”
At the end of last year, the fund held 1.2% of shares in the caterpillars included in the New York list.
However, the Foundation’s Ethics Council recommended earning money from this holding, and NBIM said at the time that the leadership believed that Caterpillar bulldozers were “used by Israeli authorities in the broad illegal destruction of Palestinian property.”
The State Department’s comments this week is not the first time US officials came to NBIM investment solutions.
In a number of messages On the Platform X Social Media last week, Trump Eli and Republican Senator Lindsey Graham indicated the reshuffle of the Norwegian wealth portfolio as “short -sighted”.
“To the Sovereign Welfare Fund of Norway … your decision to punish the US company Caterpillar because Israel uses its products, go beyond the offensive,” he wrote.
“It may be time to put tariffs for countries that refuse to run a business with excellent American companies. Or maybe we should not give visas to people who are trying to punish US companies for geopolitical differences.”
The deprivation of the Norwegian fund from Caterpillar and Israeli banks arrived shortly after NBIM said he would sell all his investments In Israeli companies that are not in the index “as soon as possible”. NBIM has also announced its intention to cancel contracts with external asset managers in Israel.
The Deputy Director General of NBIM Grande told CNBC after the initial message that the ownership of Israeli companies were being enhanced by a vigilant check over the summer, as well as The conflict on the western shore has intensified.
“From the conflict and from the opinion here in Norway, I have to say that there is a lot of close attention in Israeli companies,” he said.
“What we are doing now isn’t really down, I wouldn’t say so, but we are trying to simplify our portfolio in Israeli actions because we have ethical recommendations.”
The sovereign fund of Norway’s wealth, which has a current price of 20 trillion Norwegian crane ($ 1.98 trillion) was invested in 61 Israeli shares in late June.
He now takes only six Israeli actions, according to his site.
. Jenny Raid CNBC contributed to this article.
